2015 Activity and Sustainable Development Report7

4

PERFORMANCES

Consolidated income statement

In millions of euros - For the year ended December 31 2015 2014*

Sales 13,537.6 12,824.3 Cost of goods sold (10,315.1) (9,705.8) Gross profit 3,222.6 3,118.5

Distribution and administrative expenses (2,666.6) (2,487.4) Operating income before other income and expenses 555.9 631.1

Other income 5.1 11.6 Other expenses (181.7) (116.6) Operating income 379.4 526.2

Financial income 1.8 4.5 Interest expense on borrowings (122.9) (164.8)

Non-recurring redemption costs (52.5) -

Other financial expenses (36.4) (24.1)

Net financial expenses (210.0) (184.4) Net income before income tax 169.4 341.8

Income tax (84.4) (100.9) Net income from continuing operations 85.0 240.8

Net loss from discontinued operations (69.3) (40.8) Net income / (loss) 15.7 200.0

Portion attributable:

to the equity holders of the parent 16.9 199.7 to non-controlling interests (1.2) 0.3

Earnings per share:

Basic earnings per share (in euros) 0.06 0.69 Fully diluted earnings per share (in euros) 0.06 0.69

Earnings per share from continuing operations (in euros):

Basic earnings per share from continuing operations (in euros) 0.29 0.84 Fully diluted earnings per share from continuing operations (in euros) 0.29 0.83

*Restated for Latin America reporting segment presented as discontinued operations